Extreme Networks, Inc. (NASDAQ:EXTR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,400,924 shares of the technology company’s stock after selling 65,107 shares during the quarter. Victory Capital Management Inc.’s holdings in Extreme Networks were worth $73,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in EXTR. Creative Planning lifted its holdings in shares of Extreme Networks by 32.1% during the 3rd quarter. Creative Planning now owns 21,140 shares of the technology company’s stock valued at $318,000 after acquiring an additional 5,133 shares in the last quarter. Meritage Portfolio Management lifted its holdings in shares of Extreme Networks by 11.7% during the 3rd quarter. Meritage Portfolio Management now owns 59,163 shares of the technology company’s stock valued at $889,000 after acquiring an additional 6,182 shares in the last quarter. Lisanti Capital Growth LLC lifted its holdings in shares of Extreme Networks by 61.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company’s stock valued at $2,938,000 after acquiring an additional 74,080 shares in the last quarter. Versor Investments LP acquired a new position in shares of Extreme Networks during the 3rd quarter valued at $286,000. Finally, KBC Group NV lifted its holdings in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after acquiring an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

EXTR opened at $14.66 on Friday. The company has a 50-day moving average of $16.20 and a 200-day moving average of $15.90. The company has a market capitalization of $1.95 billion, a P/E ratio of -15.60, a PEG ratio of 3.06 and a beta of 1.73. Extreme Networks, Inc. has a 1-year low of $10.50 and a 1-year high of $19.24. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Equities analysts expect that Extreme Networks, Inc. will post 0.31 EPS for the current fiscal year.

Extreme Networks declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXTR. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research note on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a research note on Friday, February 7th. Lake Street Capital lifted their price target on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.